Exogenous determinants of entrepreneurial intuition …...Corps (NYSC) orientation camps in Nigeria. Simple random sampling via a proportionate stratification technique was used to

RESEARCH Open Access

Exogenous determinants of entrepreneurialintuition and the mediatory role ofpsychological capital among potentialyouth entrepreneursOmonigho Simon Umukoro* and David Efevogho Okurame

* Correspondence:[email protected] of Psychology,University of Ibadan, P.O. Box,22400, U.I. Post Office, Ibadan,Nigeria

Abstract

Some scholars have argued that intuition should be given more importance inscholarly research but not many researchers have investigated intuition inentrepreneurial settings. This study therefore investigated the influence of careeradaptability, ambiguity tolerance, achievement need and mentoring support onentrepreneurial intuition and the mediatory role of psychological capital. Thequantitative study employed an ex-post facto research design via cross-sectionalsurvey among 1626 youth corps members across selected National Youth ServiceCorps (NYSC) orientation camps in Nigeria. Simple random sampling via aproportionate stratification technique was used to select youth corps members toparticipate in the study sample. Results showed that after controlling for themediator (psychological capital), there was a decrease in the significant predictivevalue of career adaptability (β = .142; p < .05) and mentoring support (β = .063;p < .05) on entrepreneurial intuition; indicating partial mediation. However, thesignificant predictive value of need for achievement (β = .006; p > .05) onentrepreneurial intuition was nullified; indicating full mediation. In a bid to enhancethe intuitive capacity of potential entrepreneurs, it was recommended that intensiveand comprehensive entrepreneurship training (which would include modules ofcareer adaptability, need for achievement and mentoring support) should beincorporated in all categories of tertiary institutions.

BackgroundEntrepreneurship is an outcome of complex balancing of opportunity initiatives, risks

and rewards. It is a process by which people pursue opportunities, fulfilling needs and

wants through innovations, without regard to the resources they currently control.

Through the process of entrepreneurship, it is possible to augment the scope of capital

formation, job creation and facilitate industrialization in a country (Asaju, Arome &

Anyio, 2014). Entrepreneurship also acts as a powerful tool for raising productivity

through innovation, facilitating transfer of technology, playing key role in commercial-

izing new products, redistribution of wealth and income, earning foreign exchanges,

promoting social welfare and the likes (Collins, Hanges & Locke, 2004).

Journal of GlobalEntrepreneurship Research

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However, while entrepreneurship may be deemed beneficial in areas of job crea-

tion, its success depends on the intuitive capacity of entrepreneurs to make busi-

ness decisions under fast-paced and saturated market conditions. Theoretical

inferences have identified roles of various psychological constructs on different

types of entrepreneurship behavior. This study however attempts to establish an

empirical basis for the influence of career adaptability, ambiguity tolerance, need

for achievement and mentoring support on entrepreneurial intuition. This paper

presents details of the study background, problem statement, research methods,

findings and concluding remarks.

Entrepreneurial intuition is defined as an instinctive and instantaneous capacity to

recognize and respond to business-related cues (Sadler-Smith & Shefy, 2004). It de-

scribes a set of intrinsic traits that can prompt a disposition towards patterns of effect-

ive entrepreneurial activities. La Pira and Gillin, (2006) define entrepreneurial intuition

as that part of entrepreneurial decision and action that is not based on reason or

extrapolations, but is based, instead, on a feeling of rightness. Often the feeling of

certainty is absolute—the intuition is experienced as beyond question or doubt—and

the feeling can encompass positive emotions, such as optimism and excitement.

Crossan, Lane and White (1999) argue that “entrepreneurial intuition ... relies less on

the knowledge base of the individual, but rather, on their instinctive capacity to

recognize gaps and to identify possibilities” (p. 436).

Scholars have suggested that the intuitive capacity of entrepreneurs helps them

make effective business decisions under fast-paced and saturated market conditions

(Mitchell, Friga, & Mitchell, 2005). Many of today’s successful entrepreneurs attri-

bute their success to their intuition. For instance, Donald Trump, Bill Gates, Oprah

Winfrey and Steve Jobs, who are world renowned and successful entrepreneurs,

have attributed their success to entrepreneurial intuition amongst other factors

(Mills, 2012). Moreover, McMullen and Shepherd (2006) found that managers who

adopted intuitive decision making were more effective than their counterparts who

adopted analytical decision making. Thus, the concept of intuition becomes rele-

vant in the field of psychology and entrepreneurship. This implies that, the success

of a potential entrepreneur is largely dependent on their entrepreneurial intuition

which acts as foundational catalyst that may provoke personal initiatives towards

entrepreneurship success.

Guided by Cognitive-Experiential Self-Theory (CEST) (Epstein, 2003; Epstein 2010;

Epstein, Pacini, Denes-Raj & Heider, 1996; Pacini & Epstein, 1999) and by conceptual

work on opportunity identification (Dimov, 2007), (Dutta and Crossan, 2005) suggest

that intuition may be one of the cognitive processes responsible for enabling experi-

enced entrepreneurs to leverage their vast knowledge and complex mental frameworks

to enhance their opportunity identification ability. Intuitive processing, which involves

the matching of environmental stimuli with some deeply held (subconscious) category,

pattern or feature (Dane & Pratt, 2007), is conceptualised in CEST as being

experientially-derived and holistically-oriented (Epstein, 2003; Epstein 2010), and is ar-

gued to be crucial for opportunity identification. CEST has only recently been applied

to the entrepreneurship field (e.g. Cerni, Curtis, & Colmar, 2014). CEST assumes that

all people, including entrepreneurs, process information by two bi-directional, interact-

ing systems; that is, the rational (analytical) and experiential (intuitive) systems. The

Umukoro and Okurame Journal of Global Entrepreneurship Research (2017) 7:19 Page 2 of 13

outcome of this processing is a major determinant of how they feel, interpret events,

make decisions, and behave (Epstein, 2014).

Theoretical inferences have identified roles of various psychological constructs on differ-

ent types of entrepreneurship behavior. This study however attempts to establish an empir-

ical basis for the influence of career adaptability, ambiguity tolerance, need for achievement

and mentoring support on entrepreneurial intuition. These psychological constructs have

been touted to be correlates of implicit learning; which Lieberman (2000) suggests is the

source of intuition. Career adaptability is defined as an individual’s readiness to cope with

unanticipated transitions in future career possibilities (Savickas, 2002); tolerance for ambi-

guity is defined as an individual’s disposition towards decisions or events with vague out-

comes (McLain, 2009); need for achievement is the extent of an individual’s desire for

significant accomplishment and high standards (Ogunleye & Osagu, 2014); while mentor-

ing support is defined as the extent of inspirational and motivational support that protégés

have received from mentors on entrepreneurship issues (Okurame, 2012).

Literature has also shown that in every quest, an individual’s goal directed activities

are usually hinged on certain innate capacities that act as mediators in the exhibition of

specific goal directed behavior. Combined, these capacities represent what has been

termed psychological capital (Luthans, Youssef, Avolio, & Norman 2007). This psycho-

logical capital has been defined as “an individual’s positive psychological state of develop-

ment and is characterized by: (1) having confidence (self-efficacy) to take on and put in

the necessary effort to succeed at challenging tasks; (2) making a positive attribution (opti-

mism) about succeeding now and in the future and (3) when beset by problems and ad-

versity, persevering, sustaining and bouncing back (resilience) to attain success”.

Statement of problemSome scholars (Child, Elbanna & Braga-Rodrigues, 2010; La Pira & Gillin, 2006) have argued

that intuition should be given more importance in scholarly research on entrepreneurship.

However, not many researchers have taken up the challenge of empirically investigating intu-

ition in entrepreneurial settings. There is therefore a gap in the academic literature concern-

ing the role of intuition in entrepreneurship which has prompted appeals for scholarly

attention. Moreover, some of the psychological constructs which have been touted to be

linked with entrepreneurial intuition have been based on theoretical assumptions and have

generated ambivalent outcomes. Outcomes of a pilot study on the relationship of various

psychological variables with entrepreneurial intuition showed that the concepts of career

adaptability, ambiguity tolerance, achievement need, mentoring support and psychological

capital produced high inter-correlations with entrepreneurial intuition (Umukoro, 2016); yet

literature on these variables as antecedents of entrepreneurial intuition is largely non-

existent. This study therefore attempts to address these shortcomings by adopting a quanti-

tative approach in gaining empirical insight into the predictive role of career adaptability,

ambiguity tolerance, achievement need and mentoring support on entrepreneurial intuition,

while controlling for psychological capital as a mediator, among a catchment group of pro-

spective entrepreneurs. The following hypothesis is therefore proffered.

Hi: The independent influence of the exogenous variables (career adaptability, tolerance

for ambiguity, need for achievement and mentoring support) on entrepreneurial

intuition would be mediated by psychological capital.


MethodsThe quantitative study employed a cross-sectional research design. The study was car-

ried out among youth corps members in the six National Youth Service Corps (NYSC)

orientation camps in south-western Nigeria. Apart from the fact that an NYSC orienta-

tion camp is made up of a culturally diverse set of Nigerian youths, the choice of this

population was premised on the fact that this population forms a catchment group of

nascent entrepreneurs in Nigeria. Adopting the Krejcie and Morgan (1970) sample size

formula, a representative sample was obtained based on the expected total number of

youth corps members deployed to each of the selected orientation camps (as obtained

from the NYSC directorate headquarters). Simple random sampling via a proportionate

stratification technique was used to select youth corps members to participate in the

study sample. Based on the sample size distribution among the selected NYSC camps,

a composite sample size of 1975 youth corps members was obtained for the study.

Summary Table of Sample Size Distribution for Selected NYSC Camps

State NYSC Batch (2016) Population Sample Size

1 Oyo Batch A Stream I 4, 034 351

2 Lagos Batch A Stream I 4, 868 354

3 Ogun Batch A Stream I 2, 200 327

4 Ondo Batch A Stream II 1950 320

5 Osun Batch A Stream II 1650 310

6 Ekiti Batch A Stream II 1700 313

A formal letter was written to the management of the NYSC requesting approval to

conduct the research within the premises of the selected NYSC camps. Copies of a

letter of introduction obtained from the Department of Psychology, University of

Ibadan were also attached. Having obtained approval from the office of the NYSC

Directorate Headquarters to conduct the research in each of the selected states, the

researcher visited the selected NYSC orientation camps within the study area. The

camp management was intimated about the study and implored to enlist the

cooperation of personnel in charge of registration for incoming corps members. The

process of questionnaire distribution was explained to the personnel in charge of camp

registration provided by the camp management. Questionnaires were handed over to

the registration personnel and they were then instructed to attach a questionnaire to

every nth biodata form for the corps members during the registration process.

Completed questionnaires were to be retrieved alongside the completed biodata forms

and placed in paper bags which were provided by the researcher. The mobile detail of a

contact person among the participating personnel was collected for communication

access. All participating personnel were adequately compensated before commencement

of the process.

A total of 1975 questionnaires were distributed. However, 1821 questionnaires were

successfully retrieved, out of which 195 questionnaires were discarded due to

incomplete and/or inappropriate responses. A total of 1626 completed questionnaires

were used for the analysis. The fieldwork and data collection process spanned through

the 2016 batch ‘A’ NYSC in the six orientation camps within the Southwest of Nigeria.


Completed questionnaires coded into the SPSS software application. Multiple

regression (path analysis) was used to test for mediation in the hypothesis using Baron

and Kenny’s (1986) four step approach in which several regression analyses are

conducted and significance of the coefficients are examined at each step.

InstrumentA structured questionnaire was used to collect data for this study. The questionnaire

was made up of validated scales that measured constructs of career adaptability,

tolerance for ambiguity, need for achievement, mentoring support, psychological

capital, and entrepreneurial intuition. The scales were pre-tested via a pilot study to

validate its psychometric properties for the study population. Properties of the instru-

ments are described below.

Career adaptability

Career adaptability was measured using Savickas’ Career Adaptability Scale (2002). The

scale is based on Savickas’ (1997) model of Career adaptability which is conceptualised

as an aggregate model, where choice readiness, planning, exploration, and confidence

jointly produce career adaptability measure. All items are measured on a 5-point re-

sponse format ranging from “1: strongly disagree” to “5: strongly agree”. High scores

depict higher levels of career adaptability while low scores depict lower levels of career

adaptability. The scale has been validated in several studies (Hirschi, 2009; Koena,

Klehe, Van Vianen, Zikic, & Nauta, 2010) with Cronbach’s alpha ranging from 0.6 to

0.8. In this study, a Cronbach alpha of 0.71 was obtained for the scale.

Ambiguity tolerance

Ambiguity tolerance was measured using The Multiple Stimulus Types Ambiguity

Tolerance Scale-II (MSTAT-II; McLain, 2009). The MSTAT-II is a 13-item measure de-

signed to measure an individual’s cognitive tolerance range (aversion to attraction) for

situations that are unfamiliar, insoluble, or complex. The MSTAT-II measures the par-

ticipants’ degree of ambiguity tolerance based on five stimulus types: Items are struc-

tured as five-point Likert-type responses ranging from “1: strongly disagree” to “5:

strongly agree”. Classification of participants into high ambiguity tolerance or low am-

biguity tolerance is determined by a median split of total scores; scores ranging be-

tween 13 and 38 indicates a lower ambiguity tolerance while scores between 39 and 65

indicate a higher ambiguity tolerance. McLain (2009) reported an internal consistency

reliability of .83 (Cronbach’s alpha) which did not increase if any of the 13 items were

eliminated. In this study, a Cronbach alpha of 0.79 was obtained for the scale.

Need for achievement

Need for achievement was measured using the Achievement Motive Scale (AMS-10;

Lang & Fries, 2006). The 10-item scale consists of 5 items to measure hope of success

(HS) and 5 items to assess fear of failure (FF). Responses are structured on five-point

Likert scale ranging from “1: strongly disagree” to “5: strongly agree”. Concerning the

reliability of the scales, it is typically found that the two scales for HS and FF show

acceptable internal consistencies (Cronbach’s alpha: 0.71 to 0.83 for HS and 0.81 to


0.89 for FF; Lang & Fries, 2006). In this study, a Cronbach alpha of 0.81 was ob-

tained for the scale.

Mentoring support

Mentoring Support was measured using a modified version of a 15-item mentoring

functions scale by Okurame (2012) The 15-item scale measures the extent of mentor-

ing support that protégés feel they have received from their mentors in entrepreneur-

ship issues using a response scale of 1 = “strongly disagree” to 5 = “strongly agree.”

Examples of some of the items in the modified version include “I have a mentor who

gives me competent advice about handling business opportunities”, ‘I have a mentor

whose entrepreneurship skills have influenced my desire to build similar skills’. An

alpha coefficient of .89 was obtained by the original author of the scale. In this study, a

Cronbach alpha of 0.95 was obtained for the scale.

Psychological capital

The psychological capital questionnaire (PCQ; Luthans, Youssef & Avolio, 2007) was

used to assess psychological capital. The PCQ draws from widely recognized published

standardized measures for each of the positive constructs that make up PsyCap as

follows: (1) hope (2) optimism (3) self-efficacy; and (4) resilience. The 12-item PCQ has

responses put into a five-point Likert-type scale with categories ranging from

1 = strongly disagree to 5 = strongly agree. High scores depict higher levels of self-belief

and personal drive towards future outcomes while low scores depict lower levels of self-

belief and personal drive towards future outcomes. The PCQ has demonstrated good in-

ternal consistency for the respective subscales (hope: 0.72, optimism: 0.74, self-efficacy:

0.75, and resilience: 0.71) on the samples utilised in Luthans, Avolio, Avey, & Norman’s

(2007) study. In this study, a Cronbach alpha of 0.90 was obtained for the scale.

Entrepreneurial intuition

A culturally relevant entrepreneurial intuition scale developed by the researchers was

used for the study. The scale comprised of 21 items which measured intuitive dimensions

of ingenuity (6 items), risk propensity (4 items), preemption (5 items) and opportunity

recognition (6 items). A 5-point likert scale format ranging from ‘Not True of Me = 1’ to

‘Very True of Me = 5’ was adopted for this scale. A confirmatory factor analysis on the 21

items showed that all items loaded significantly on their constructs (p < .001), with

weights ranging from .51 to .83. The reliability analysis of the entrepreneurial intuition

scale produced a Cronbach alpha of 0.85.

ParticipantsThe study participants comprised of 780 (48%) male corps members and 846 (52%)

female corps members. Their ages ranged from 19 years to 30 years old with 44 (2.7%)

of them being below 20 years old, 594 (36.5%) of them being between 20 and 23 years

old, 664 (40.8%) of them being between 24 and 26 years old and 324 (19.9%) of them

being between 27 and 30 years old. Based on their individual tertiary alma maters, 692

(42.6%) of the participants were from federal universities, 434 (26.7%) of them were

from state universities, 128 (7.9%) of them were from federal polytechnics, 166 (10.2%)


of them were from state polytechnics while 206 (12.7%) of them were from private

tertiary institutions.

Hypothesis testingHypothesis of the study was tested using Baron and Kenny’s (1986) four step multiple

regression approach in which several regression analyses are conducted and

significance of the coefficients are examined at each step as described;

Step 1: Conduct a simple regression analysis with X predicting Y

Step 2: Conduct a simple regression analysis with X predicting M

Step 3: Conduct a simple regression analysis with M predicting Y

Step 4: Conduct a multiple regression analysis with X and M predicting Y

Where X represents the independent variables

Y represents the dependent variable

M represents the mediating variable

Step one: Y = B0 + B1X + e

Results from Table 1 show that the exogenous variables (career adaptability, tolerance for

ambiguity, need for achievement and mentoring support) jointly predicted entrepreneurial

intuition among youth corps members [F(4,1615) = 84.68, R2 = .174; p < .01] and accounted

for 17.4% of the variance in entrepreneurial intuition. Further results on the independent

prediction of the exogenous variables on entrepreneurial intuition suggest that career

adaptability (β = .239; p < .01), need for achievement (β = .146; p < .01) and mentoring

support (β = .177; p < .01) emerged as significant independent positive predictors of

entrepreneurial intuition among youth corps members while tolerance for ambiguity did

not significantly predict entrepreneurial intuition among youth corps members. The results

from Table 1 indicates that the first condition for mediation is supported.

Step two: M = B0 + B1X + e

Results from Table 2 show that the exogenous variables (career adaptability, tolerance

for ambiguity, need for achievement and mentoring support) jointly predicted

psychological capital (the mediating variable) among youth corps members

[F(4,1617) = 285.74, R2 = .415; p < .01] and accounted for 41.5% of the variance in

psychological capital. Further results on the independent prediction of the exogenous

variables on psychological capital suggest that career adaptability (β = .246; p < .01), need

for achievement (β = .354; p < .01) and mentoring support (β = .285; p < .01) emerged as

significant independent positive predictors of psychological capital among youth corps

members while tolerance for ambiguity (β = −.059; p < .05) emerged as a significant

Table 1 Multiple Regression Summary Table Showing Predictive Influence of Exogenous VariablesOn Entrepreneurial Intuition

R R2 F Sig β t p

Career Adaptability .239 9.423 <.01

Ambiguity Tolerance .417 .174 84.68 .000 −.020 −.855 >.05

Need for Achievement .146 5.804 <.01

Mentoring Support .177 7.256 <.01


independent negative predictor of psychological capital among youth corps members.

The results from Table 2 indicate that the second condition for mediation is supported.

Step three: Y = B0 + B1M + e

Results from Table 3 shows that psychological capital emerged as a significant

predictor of entrepreneurial intuition (β = .490, p < .01) and accounted for about 24%

in the variance of entrepreneurial intuition among youth corps members. The results

from Table 3 indicate that the third condition for mediation is supported. Results from

Steps 1–3 establish that zero-order relationships among the study variables exist, there-

fore mediation may exist.

Step four: Y = B0 + B1M + B2M + e

Results from Table 4 show that the exogenous variables (career adaptability, tolerance

for ambiguity, need for achievement and mentoring support) and psychological

capital jointly predicted entrepreneurial intuition among youth corps members

[F(5,1613) = 114.67, R2 = .263; p < .01] and accounted for 26.3% of the variance in

entrepreneurial intuition. Further results on the independent prediction of the

exogenous variables and psychological capital on entrepreneurial intuition suggest

that career adaptability (β = .142; p < .01), mentoring support (β = .006; p < .01)

and psychological capital (β = .393; p < .01) emerged as significant independent

positive predictors of entrepreneurial intuition among youth corps members while

tolerance for ambiguity (β = .004; p > .05) and need for achievement (β = .006;

p > .05) did not significantly predict entrepreneurial intuition among youth corps

members. To confirm the impact of psychological capital as a mediator between

the exogenous variables (career adaptability, tolerance for ambiguity, need for

achievement and mentoring support) and entrepreneurial intuition, the beta (β)

weights and p-value of the exogenous variables in Step 1 and Step 4 of the model

were compared. Results are presented in Table 5.

An examination of the comparative analysis of results from Step 1 and Step 4 shows

that the predictive value of career adaptability on entrepreneurial intuition decreased

(β1 = .239, β2 = .142) after controlling for the mediator; consistent with partial

mediation. Similarly, the predictive value of mentoring support on entrepreneurial

intuition decreased (β1 = .177, β2 = .063) after controlling for the mediator; consistent

with partial mediation. However, need for achievement was no longer a significant

predictor of entrepreneurial intuition after controlling for the mediator (β1 = .146,

Table 2 Multiple Regression Summary Table Showing Predictive Influence of Exogenous Variableson Psychological Capital

R R2 F P β t p


Ambiguity Tolerance .644 .415 285.740 <.01 −.059 −2.954 <.01

Need for Achievement .354 16.772 <.01


Table 3 Multiple Regression Summary Table Showing Predictive Influence of Psychological Capitalon Entrepreneurial Intuition

R R2 F P β t p

Psychological Capital .490 .240 511.614 <.01 .490 22.619 <.01


β2 = .006); consistent with full mediation. The path coefficients of the exogenous

variables and psychological capital were established by obtaining the differences in

β weights of the variables in Step 1 and Step 4 of the model. Results are presented

in Table 6.

Table 6 shows the direct path coefficients (beta) which is a standardized regression

coefficient for all the variables. It indicates the direction, strength and significance level

of the exogenous variables (career adaptability, tolerance for ambiguity, need for

achievement and mentoring support) and the mediating variable (psychological capital)

on entrepreneurial intuition. The empirical model for this study is highlighted in Fig. 1.

Results and DiscussionThe study hypothesis stated that the independent influence of the exogenous variables

(career adaptability, tolerance for ambiguity, need for achievement and mentoring

support) on entrepreneurial intuition would be mediated by psychological capital. The

results supported the hypothesis by identifying the significant influence of career

adaptability, need for achievement and mentoring support on entrepreneurial intuition

as well as the significant mediatory effect of psychological capital. The justification for

the impact of career adaptability on entrepreneurial intuition stems from its role in

enhancing an individual’s readiness and resources for coping with transitions in current

and anticipated tasks. Thus, rather than prescribing a fixed process or measuring a

particular outcome, it focuses on the individual’s ability to adopt intuitive measures to

survive and thrive in the business world. Similarly, need for achievement (N-Ach) -

which describes an individual’s desire for significant accomplishment, mastering of

skills, control, or high standards - may spur feelings of intuitive certitude over

instantaneous business decisions. This need is influenced by internal drive for action

and the pressure exerted by the expectations of others. Mentoring affords the transfer

of implicitly learned skills and knowledge which protégés can access instinctively and

Table 4 Multiple Regression Summary Table Showing Predictive Influence of Exogenous Variablesand Psychological Capital on Entrepreneurial Intuition

R R2 F P β t p


Ambiguity Tolerance .004 .197 >.05

Need for Achievement .513 .263 114.673 <.01 .006 .238 >.05


Psychological Capital .393 14.039 <.01

Table 5 Summary Table Showing Comparison of β weights in Step 1 and Step 4 of the model

Step 1 Step 4

β P β P

Career Adaptability .239 <.01 .142 <.01

Ambiguity Tolerance −.020 >.05 .004 >.05

Need for Achievement .146 <.01 .006 >.05

Mentoring Support .177 <.05 .063 <.05

Psychological Capital (Mediator) .393 <.01


apply in diverse entrepreneurial decision making circumstances to foster success in

entrepreneurship ventures.

Moreover, the plausibility of these results is supported by similar findings across the

entrepreneurship literature. For instance, Brimrose, Brown, Barnes and Hughes

(2011) examined the role of career adaptability in skills supply for entrepreneurship

and found that career adaptability had significant influence on success trends among

entrepreneurs. Creed, Fallon and Hood’s (2009) study demonstrated that the career

adaptability variables were inter-related and predicted entrepreneurial success. Wu,

Matthews and Dagher (2007) investigated whether need for achievement has an effect

on persistence behavior among nascent entrepreneurs. Their results found that Nach

positively influenced entrepreneurial persistence. Audet and Couteret (2012) exam-

ined the effectiveness of mentorship as a support measure for young entrepreneurs

and found that young entrepreneurs with mentor entrepreneurs were relatively more

successful than young entrepreneurs without mentor entrepreneurs Furthermore, the

justification of psychological capital as a mediator between the exogenous variables of

this study and entrepreneurial intuition is highlighted in the fact that an individual’s

goal directed activities are usually hinged on certain innate capacities that act as me-

diators in the exhibition of specific goal directed behavior. Luthans, Youssef and

Avolio, (2007) assert the combination of these capacities represent what has been

termed psychological capital.

The plausibility of psychological capital being a mediator to entrepreneurial intuition

can be illustrated in instances where individuals having the required certification in

Table 6 Path coefficients of direct effect of exogenous variables on entrepreneurial intuition

Path Variables Path Coefficients

A Career Adaptability .097**

B Ambiguity Tolerance .016

C Need for Achievement .140

D Mentoring Support .114*

NB: ** = p < .01; * = p < .05

Fig. 1 Empirical Model


business administration, backed up with adequate financial capital still fail in business

ventures, or do not even venture into business at all. Thus, success in business

ventures also entails individuals to have confidence (self-efficacy) to take on and put in

the necessary effort to succeed in the business; making a positive attribution (in form

of optimism and hope) about succeeding in the business and; when beset by problems

and adversity in the business, the ability to persevere, sustain and bounce back

(resilience) to attain business success.

In line with the outcomes of this study, Dhammika and Roche (2010) carried out a

study of 4 entrepreneurs, in order to ascertain the potential contribution of

psychological capital, for entrepreneurs, during a recession. Results showed that the

four dimensions of psychological capital enhanced entrepreneur’s ability to manage

during the recession. Moreover, those entrepreneurs who demonstrated psychological

capital before the recession were better able to buffer the impacts of the recession.

Similarly Baluku, Kikooma and Kibanja (2016) explored the interaction between

entrepreneurs’ positive psychological capital and startup capital in leading to

entrepreneurial success. Their results showed that optimism was the component of

psychological capital that significantly moderated the relationship between startup

capital and entrepreneurial success. Both startup capital and psychological capital

emerged as significant predictors of entrepreneurial success; however, psychological

capital was the better predictor.

ConclusionIndividuals who are entrepreneurially intuitive are expected to be successful in

entrepreneurship ventures. Thus, the results of the study identify the importance of

career adaptability, ambiguity tolerance and mentoring support on entrepreneurial

intuition. The outcomes of this study further point to a nexus between the economics

and the psychology of entrepreneurship. While there is a general belief that the

success of a business venture is premised on the ‘economics’ of the business proposal,

this study provides insight into the importance of the ‘psychology’ of the business

proposer. The results of this study therefore imply that the absence of career

adaptability, ambiguity tolerance and mentoring support among nascent

entrepreneurs may result in business failure. Based on these results, it is

recommended that intensive and comprehensive entrepreneurship training should be

incorporated in all categories of tertiary institutions. Furthermore, such training

should include modules of career adaptability, need for achievement and mentoring

support alongside other important psychological constructs that promote success in

entrepreneurship.

Limitations and future directionsThis study is not without its limitations, the first of which is the use of self-report

measures to obtain relevant data from the participants of the study. Self-reports

are problematic as many people are more concerned with social desirability than

with truth. As such data obtained through self-report measures are susceptible to

the bias of social desirability.

The use of questionnaires through a cross-sectional survey design to measure a sub-

conscious process such as entrepreneurial intuition may be substituted by an experimental


design in which sub-conscious processes of entrepreneurial intuition may be objectively ob-

served instead of subjectively reported. This could be achieved by evaluating participants’

reactions to scenarios/simulations of business related challenges.

Further studies should also be replicated among out-of school youths without formal

tertiary education experience in order to provide a basis for comparison between both

categories of Nigerian youths. The outcomes of such studies may provide important

implications for formulation and implementation of entrepreneurship policies for liter-

ate, semi-literate and illiterate youths in the society.

FundingThe research was self-funded through the institutional platform of the University of Ibadan as part of the requirementsfor a Ph.D in Industrial and Organizational Psychology.

Authors’ contributionsOSU (Researcher) carried out the fieldwork, data analysis and write-up for the research. DEO (Academic Supervisor)developed and provided the ‘mentoring support scale’ used to obtain data for the study, carried out supervisory rolefor the research. Both authors read and approved the final manuscript.

Competing interestsThe authors declare that they have no competing interests.

Publisher’s NoteSpringer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Received: 4 May 2017 Accepted: 29 August 2017

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